Airdrops for Bitcoin Owners: The Good and the Bad

Bitcoin owners may find themselves with more crypto holdings as coin projects organize giveaways to attract attention.

Being a Bitcoin purist has its perks, including the occasional goodie bag of airdropped coins. Of course, there are all of the hard forks, starting with Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond and a few others that may be more of a risk than a benefit. 

But now, Bitcoin owners can track their right to airdropped coins, and see which ones can be obtained safely. 

Five Reasons to be Bullish on Ethereum

Airdrops are usual for Ethereum owners, and serve to popularize ICO projects. Usually, the airdrops are proportionate to the amount of Ethereum held. 

Bitcoin owners, however, have their own form of dividends. The approach of airdrops is rather new, after forking Bitcoin soon turned out to have diminishing success. Now, altcoins are performing airdrops and trying to make an impression on the Bitcoin community. A notable case was that of ZClassic, which may be days away from a hard fork and an airdrop to Bitcoin and ZClassic (ZCL) owners. 

Airdrops and the way to safely claim and trade the coins can be found at the BTCDiv tool

The most curious airdrop comes from Byteball Bytes (GBYTE).Bitcoin owners would receive  0.00635 GBYTE coins in the next round of airdrops. 

One of the first airdrops, that of CLAM coins, happened from a snapshot as far back as 2014. Since then, CLAM coins have grown from a price of $0.26 to around $10. An untraded coin, Semux (SEM) has scheduled an airdrop for February 25. The digital asset is only traded over-the-counted on the Bitcointalk forums. 

The danger of airdrops and the splitting of forked coins comes from scams and phishing sites. Users must look to the official account, and verify the airdrop. In any case, sending out private keys to any web tool is a bad idea. It can be done, but only from a wallet already emptied out, which would never be used again. 

In the future, more coins may try to link their fate to that of Bitcoin and grab the attention of the largest crypto community. But this also means high volatility for the coins, as in the case of ZClassic, which had reached as high as $198, but fell back to $150 as the upcoming airdrop news could not keep the hype longer than a few days.